Bank of Scotland

Growth in permanent placements eases to slowest in seven months

15 December 2014

November’s Bank of Scotland Report on Jobs indicated further growth of staff placements by recruitment consultancies north of the border, although the pace of increase eased. Strong upward pressure on salaries and wages was maintained as demand for staff remained on the up. Elsewhere, survey data showed a slower deterioration in candidate availability, albeit the rate of decline remained substantial overall.

The Bank of Scotland Labour Market Barometer slipped to 60.1 in November, from 65.0 in October. The latest reading signalled another improvement in overall labour market conditions in Scotland, but at the slowest rate since September of last year. For the first time in five months, the barometer was below the equivalent index for the UK jobs market as a whole.    

Donald MacRae, Chief Economist at Bank of Scotland, commented: “November's Report on Jobs showed further growth in the number of people appointed to jobs although the pace of increase eased to its lowest level for seven months.   Vacancies for permanent jobs, rose but at a slower rate than earlier in the year. These results indicate Scotland's economy growing but slowing.”

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